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The sharing economy has enjoyed rapid growth in recent years, and entered many traditional industries such as accommodation, transportation and lending. Although researchers in information systems and marketing have attempted to examine the impacts of the sharing economy on traditional businesses, they have not yet studied the rental housing market. Thus, this research aims to investigate the impact of the sharing economy (i.e. home-sharing) on traditional businesses (i.e. rental housing market).

The authors assemble rich data from multiple sources about the entry of a leading Chinese home-sharing platform (i.e. Xiaozhu.com) and local housing rental price index. Then, econometric models (i.e. linear panel-level data models) are employed for empirical investigation. Instrumental variables are used to account for potential endogeneity issues. Various robustness checks are adopted to establish the consistency of the findings.

Overall, the estimation results show that the entry of a home-sharing platform will decrease the local housing rental price. Moreover, this impact would be strengthened in a more developed city. Additionally, this impact would be strengthened with higher prices of new houses or second-hand houses.

First, this research is one of the first to study the impact of the sharing economy (i.e. home-sharing) on traditional markets (i.e. housing rentals). Second, it contributes to the relevant literature by documenting that the impact of a platform's entry is not uniform but contingent on city and housing market characteristics. Third, practically, the findings also offer important implications for platform operators and policy makers.

This viewpoint paper aims to provide reflections on the role of second homes in the tourism and housing markets together with future lines of research during and after the first outbreak of the COVID-19 (coronavirus disease 2019) pandemic. The authors aim to review the epistemological evolution of the term “second homes” because of the pandemic, as well as to unfold possible short-, medium- and long-term effects that could place second homes at the center of tourist activity and of the tourist rental market profitability.

This paper is based on published research studies about the definition of the term “second homes”, as well as media sources related to their role during the current situation of the first outbreak of the COVID-19 pandemic.

In the early stages of the pandemic, second-home owners migrated from crowded cities to low-density areas, being vectors of transmission of the virus. Now, a potential shift in tourist preferences could position second homes at the center of tourist activity as soon as travel restrictions are reduced. This could intensify existing processes of commodification of housing, empowering accommodation platforms and situating the potential for profiteering around the tourist rental market. Parallely, international interests in migrating from crowded cities to low-density areas could also be triggered.

This viewpoint is presented as the confinement measures associated with the new pandemic are being de-escalated in most of the western countries. It is expected that sharing it will provide insights to researchers and practitioners to better plan their research around secondary housing. Its role should be analysed from different perspectives: in the spread of the virus to low-density areas to anticipate mitigation actions in future outbreaks; in the recovery process of (domestic) tourism; in the processes of commodification and financialization of housing in tourist areas; and their impacts on local residents.

The purpose of this paper is to investigate the role of distinct types of heating technology and their price impact in German residential real estate markets, considering a wide range of other housing market determinants. The authors aim to test and to verify specifically, whether the obsolescence of heating technology leads to a significant price discount and whether higher technological standards (and environmental friendliness) come with a price premium on the market.

The authors create housing market models for rental and sales segments by constructing generalized additive models with explicit multi-layered spatial components. To elaborate a profound and contemporary answer using these models, the authors perform large-sample regression analyses based on more than 400,000 observations covering German residential properties in 2015.

First and foremost, the heating system indeed shows significant explanatory importance for measuring housing rents and purchasing price. Second, the authors find that it makes a difference whether clean “green” technologies are implemented or whether “brown” systems with obsolete technology or fossil energy sources is on hand. Ultimately, the authors conclude that while low energy consumption indeed comes with a price premium, this needs to be interpreted together with the property’s heating type, as housing markets seem to outweigh the “green premium” by “brown discounts” if low energy consumption figures are powered by a certain type of heating technology system.

Aside of a possible omitted variable bias, the main research limitation is constituted by the integration of asking prices in the analysis, as actual transaction prices are not systematically transparent on national level in Germany. Limitations are discussed at the end of the paper.

This work supports investors who face the challenge of making environmental- and energy-related decisions as well as appraisers who deliver financial fundamentals for such. Third, the paper supports both asset managers as well as investment strategists in argumentation pro-environmental investments beyond all ecological necessity.

This paper contributes to the current discussion on climate change and the eclectic role of real estate in this context. The authors deliver evidence on pricing effects as a measure of socioeconomic acceptance of progressive heating technology and environmental friendliness as an imperative of twenty-first century societies.

This is the first study on “green premiums” or “brown discounts” that includes heating technology as a potential and distinct driver of value and rents. It is a contemporary contribution and delivers original information on the quantitative impact of contemporary and anachronistic technology in heating to researchers as well as investors and appraisers.

This paper aims to explore the effects of a surge in tourism short-term rentals (STR) on housing prices in municipalities within Portugal’s two largest Metropolitan Statistical Areas.

This study applies the difference-in-differences (DiD) methodology by using a feasible generalized least squares (FGLS) estimator in a seemingly unrelated regression (SUR) equation model.

The results show that the liberalization of STR had a significant impact on housing prices in municipalities where a higher percentage of housing was transferred to tourism. This transfer led to a leftward shift in the housing supply and a consequent increase in housing prices. These price increases are much higher than those found in previous studies on the same subject. The authors also found that municipalities with more STR had low housing elasticities, which indicates that adjustments to the transfer of real estate from housing to tourism were made by increasing house prices, and not by increasing supply quantities.

The study suggests that an unforeseen consequence of allowing property owners to transfer the use of real estate from housing to other services (namely, tourism) was extreme housing price increases due to inelastic housing supply.

This is the first time that the DiD methodology has been applied in real estate markets using FGLS in a SUR equation model and the authors show that it produces more precise estimates than the baseline OLS FE. The authors also find evidence of a supply shock provoked by STR.

This study aims to examine the impact of housing construction on single-family housing values and the implications for urban development.

To achieve this objective, the author used the difference-in-difference methodology to examine the effect of multifamily and single-family housing construction on surrounding single-family homes in Stockholm, Sweden. The author analysed data from approximately 480 housing construction projects between 2009 and 2014 and 17,000 single-family detached house transactions between 2005 and 2018.

The research found that multifamily construction projects did not affect the value of surrounding single-family homes, while single-family home construction had a negative impact. The author attributes this result to single-family housing projects typically located in areas with initially positive externalities, while multifamily housing projects are often located on the edge of areas with negative externalities before construction.

The research is limited by its focus on a specific geographic area and time frame, and future research could expand the scope to include other cities and regions and different periods. Additionally, further research could examine the impact of housing construction on other economic factors beyond housing values.

The research has practical implications for urban planners and policymakers. They should consider the potential negative impact of new single-family home construction on existing single-family housing areas while balancing the need for new housing in urban areas. By carefully evaluating construction locations, policymakers can create more sustainable, livable and equitable urban environments that benefit all members of society.

This research paper contributes to the field of housing economics by examining the impact of housing construction on single-family housing values in the context of urban development and climate change mitigation. Using a difference-in-difference methodology, the study provides evidence of the price effect of multifamily and single-family housing construction on surrounding single-family homes, which has important policy implications for urban planners and policymakers. By identifying the negative impact of single-family home construction on surrounding areas and highlighting the need for careful evaluation of construction locations, the research provides valuable insights for creating sustainable, livable and equitable urban environments that benefit all members of society.

In the Global North, affordable housing has evolved and thrived, and it is now gaining traction in the Global South, where governments have been vocal supporters of the concept. Therefore, this paper aims to investigate the important criteria for selecting affordable housing units in Ghana.

A quantitative research approach was used, and a survey was administered to the residents. The data was analysed using both descriptive and inferential statistics. The relative importance index technique was used to rank the important criteria, and the EFA technique was used to create a taxonomy system for the criteria.

The hierarchical ranking of the most significant criteria for selecting affordable housing includes community safety, waste management and access to good-quality education. Furthermore, the important criteria for selecting affordable housing are classified into two groups, namely, “sustainability criteria” and “housing demand and supply and social service provision”.

This study has implications for the real estate industry and construction stakeholders, as this will inform decision-making in terms of the design of affordable housing and the suitability of the location for the development.

These findings provide a baseline to support potential homeowners and tenants in their quest to select affordable housing. Furthermore, these findings will aid future longitudinal research into the indicators or criteria for selecting suitable locations for the development of low- and middle-income housing.

In Malaysia, both Islamic financial institutions (IFIs) and Islamic co-operatives (ICs) provide mushārakah mutanāqiṣah (diminishing partnership) (MM) financing. It was initially a preferred contract as it is deemed to be more Sharīʿah-compliant and free from the element of ribā (interest) in comparison to other Sharīʿah-compliant sale contracts. Nevertheless, MM is now considered less appealing to IFIs due to its existing challenges. This paper aims to emphasise on MM as practiced by ICs which will highlight approaches to default, pricing of rental rates, profit sharing method and early settlement which differ to the practice of MM by IFIs.

This study focuses on Koperasi Pembiayaan Syariah Angkasa (KOPSYA), an IC based in Malaysia, which the authors concurred as being an ideal organisation to study on the matter due to its strong stance in promoting Sharīʿah-compliant financing products.

The research highlights the flexibility of MM implementation in KOPSYA to provide some insights on the rationale behind MM operations in KOPSYA.

The authors are hopeful that this paper will aspire further interest by giving the readers better understanding on the implementation of MM in KOPSYA and how it will benefit the customers.

This paper aims to investigate the presence of a housing bubble using Swedish data from 1986Q1-2016Q4 by using various methods.

First, the authors use affordability indicators and asset-pricing approaches, including the price-to-income ratio, price-to-rent ratio and user cost, supplemented by a qualitative discussion of other factors affecting house prices. Second, the authors use cointegration techniques to compute the fundamental (or long-run) price, which is then compared with the actual price to test the degree of Sweden’s housing price bubble during the studied period. Third, they apply the univariate right-tailed unit root test procedure to capture bursting bubbles and to date-stamp bubbles.

The authors find evidence for rational housing bubbles with explosive behavioral components beginning in 2004. These bubbles do not continuously diverge but instead periodically revert to their fundamental value. However, the deviation is persistent, and without any policy correction, it takes decades for real house prices to return to equilibrium.

The policy implication is that monetary policy designed to contain mortgage demand and thereby prevent burst episodes in the housing market must address external imbalances, as revealed in real exchange rate undervaluation. It is unlikely that current policies will stop the rise of house prices, as the growth of mortgage credit, improvement in Sweden’s international competitiveness and the path of interest rates are much more important factors.

This paper explores how Airbnb hosts' experiences with and responses to the coronavirus disease 2019 (COVID-19) health crisis may differ according to their motivations to host and to the type and spatial layout of their Airbnb accommodation. Based on these insights, the paper reflects on the lessons that are learned for the future of short-term rentals.

This is a qualitative multi-method small-scale case study, which relies on in-depth interviews and a focus group discussion carried out with a group of hosts affiliated to the Airbnb Host Community in Aarhus, Denmark. Informed by an interpretivist approach, the study aims to make sense of people's subjective experiences with hosting on the Airbnb platform, and how they have continued and adapted their hospitality practices during the pandemic.

Participants' adaptive practices vary according to their motivations to host and the type of accommodation that they rent out. Although all hosts in this study now implement more intensive cleaning practices, hosts who stay with their guests onsite tend to take stricter preventative measures to avoid contamination and transmission of the virus in their social interactions with guests. On the contrary, hosts who rent out their entire properties and have minimal contact with their guests found themselves less affected by the pandemic's impacts and have had a continued demand for their properties.

The COVID-19 pandemic has unevenly affected Airbnb hosts. Hosts who share their homes with guests require different adaptations to their daily behaviour and cleaning practices at home than hosts who do not stay with their guests and rent out entire properties. However, unlike professional hosts who largely or solely rely on Airbnb for their income, occasional home-sharing hosts tend to be more flexible in coping with cancelled or fewer bookings.

This study provides novel insights into the uneven impact of the COVID-19 pandemic on participants in the platform economies of tourism. It contributes to existing literature on the impacts of the pandemic on Airbnb's operations by showing how hosts' adaptive practices are informed by their subjective living conditions and the type of accommodation they can offer their guests.

Although networked hospitality businesses as Airbnb are a recent phenomenon, a rapid growth has made them a serious competitor for the hospitality industry with important consequences for tourism and for tourist destinations. The purpose of this paper is to analyse the nature of the phenomenon, its potential further development in the next five years and the impact this developments will have on tourism, on hotels and on city destinations.

A literature study, combined with scenario workshops and a Delphi panel, were used to map current trends and uncertainties. With this input, future scenarios were elaborated using the Global Business Network (“scenario cross”) method.

Network platforms as Airbnb are often classified under something called the “Sharing Economy”, a denomination that obscures their true nature. Airbnb is a challenging innovation to which traditional hospitality will have to respond. Its impact has at the same time led to a call for regulatory policies. The definition of these policies and the evolution of tourism are variables that determine future scenarios. Attempts to ban the phenomenon mean a disincentive to innovation and protect oligopolistic markets; more receptive policies may have the desired results if tourism grows moderately but in booming destinations they may lead to a harmful commercialization.

Until now, Airbnb has been described in conceptual studies about the so-called “Sharing economy”, or more recently in empirical studies about isolated effects of holiday rentals. This paper contextualizes the evolution of networked hospitality and seeks to synthesize the sum of its impacts, thus enabling businesses and local governments to define positions and strategies.